NorthLight Power, a joint venture (JV) 60% owned by Renewable Energy Corp. ASA and 40% by Summit Power Group LLC, has sold the 60 MW North Star project in Fresno County, Calif., to First Solar Inc.
According to the JV, this sale is in line with its strategy to focus on the initial development phase of large solar power plants. Terms of the transaction were not disclosed.
Construction of the North Star solar power plant is expected to start in 2014 and be completed in 2015. The plant has a 20-year power purchase agreement in place with Pacific Gas and Electric Company.
